COVID-19 has created one of the most significant society-wide challenges in recent history. Everyone, around the globe and throughout our country, has felt its impact. We know our Credit Union members are not only adapting to a new rhythm of life, but many are dealing with increased financial pressures as well.
Your State Farm Federal Credit Union has many ways to help members in need, including:
- Emergency/hardship loans (up to $3,000; no payments for 90 days)
- Loan modifications & deferred payments for existing loans
- Cash out loans on classic vehicles, boats, and RVs
Note: State Farm Federal Credit Union does not offer small business loans, and is not a participating lender in the Paycheck Protection Program (PPP) loan program. We suggest members interested in learning about small business loans visit the U.S. Small Business Administration (SBA) COVID-19 resource page for information.
If you are a member experiencing a direct financial hardship due to COVID-19 and would like more information regarding the options above or any of our Credit Union products and services, please contact us at 888-521-5209, 7a – 7p CT, Mon – Fri. One of our Specialists will be happy to answer your questions.
To apply for a loan today, login to online banking and access the “Applications” widget (found under the “More” widget section). If you have requested a modification to the payment of schedule of an existing loan, please check our Loan Deferment Request Status page here.
Loan approvals are based on a number of factors including membership eligibility and underwriting guidelines.